Martin Lee @ Sg
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Tag Archives for " S-Chips "

Fire in Sino-Forest and S-Chips

While the plague in S-Chips continue over here in Singapore, the same thing has happened in the US and Canada. In the past couple of years, there are many China based company that have got themselves listed into US and Canada via the reverse merger method. Most of these companies had operating records that were […]

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Finding Dud Companies on SGX

We all know about the numerous S-Chips scandals that have occurred here. I discovered that one fairly good method of spotting dubious companies on SGX is to watch out for the queries that SGX raises to the company. Once in a while, SGX will raise such queries when they find something in the company’s reporting […]

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Fire Outbreak at Sino Techfibre

What do you do when your auditors discover irregularities in your accounts? Simple. Make the books disappear. I remembered a previous incident where a company reported that the documents were stolen while they were transporting it. I am sure there are 101 other ways. This is another one of them. Fire Outbreak at Sino Techfibre […]

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China Gaoxian Fibre Fabric Holdings Suspended

China Gaoxian Fibre Holdings has been informed by its auditors, Ernst & Young, that it could not verify nor confirm the bank balances in the company’s subsidiaries. The subsidiaries are Zhejiang Huagang Polyester Industrial and Fujian New Huawei Fibre Dyeing. The trading halt of its shares (called on 22nd March 2011) has been converted to […]

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S-Chips Scandal Again!

It seems that the Singapore listed China companies (or S-Chips) are back in the limelight again. Two firms, China Hongxing and polyester fibre manufacturer Hongwei Technologies have been suspended from trading due to accounting irregularities. For China Hongxing, irregularities have been found in the cash and bank balances, accounts receivables, accounts payables and other expenses […]

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